From the market trend, Bitcoin's recent volatility has been continuously narrowing, with low trading volume, showing typical characteristics of a 'pre-reversal night'. Technical indicators show that the Bollinger Bands are continuously contracting, and the MACD indicator is hovering near the zero axis, indicating that the market is about to make a directional choice. If the support level of $106,000 is strongly breached by bears, panic sentiment will quickly spread, triggering a chain sell-off, and the market may face a cliff-like decline.

Therefore, it is recommended to consider short positions near the rebound around $105,500-$106,000, with subsequent targets at $104,000 and $103,300.